Yes, free money inflates risky assets, but it's also just supply and demand. Mining rewards got halved, so miners can't sell as many BTC as used to do after min

Yes, free money inflates risky assets, but it's also just supply and demand. Mining rewards got halved, so miners can't sell as many BTC as used to do after mining a block, so the supply of BTC just went down significantly. The more macro stuff like worries about inflation due to the Fed printing $$$, easy money (0% interest rates), and yes, some FOMO speculation is increasing demand. As far as I'm concerned this is working as intended. This is not the first boom / bust and this won't be the last.